Prashant Modi and his contribution to GEECL growth
Great Eastern Energy Corporation Limited has had a progressive 2012-2013. The company has been successful in earning material advancement across business with visionary board of directors’ commitment and dedication in building a strong business network in the industry. GEECL has delivered significant growth in production, revenue, and profit. The credit certainly goes to the entire organization. But, there is one man who should get the credit for the success of the company. He is the President and Chief Operating Officer of GEECL, Mr. Prashant Modi.
According to him, the key factor that contributed to the increase in revenue and profit is the elevated gas production and corresponding sales. It can be rightly said that due to the accessible gas sales contracts and MOUs, the company has experienced an increase in production which has indirectly reflected in improved revenue. Mr. Prashant Modi is convinced that the company will persistently grow its cash flow with the contracts and MOUs in place.
Mr. Prashant Modi, GEECL, was happy to declare that the total revenue increased by 29%, compared to the corresponding period last year, to US$ 14.71m. Besides, the company has announced that EBITDA increased by 48% to US$ 9.99m.
At the PAT level, pre MTM (Mark to Market) Great Eastern Energy Corporation Limited has made a momentous profit of US$ 5.73m as compared to pre MTM profit of US$ 2.16m in the corresponding period last year. This indicates an increase of 165%.
Mr. Prashant Modi who has been associated with GEECL since 1996, has contributed greatly in the success stories of GEECL. He is the leader who has focused commitment in the routine operations of the Company. In order to achieve the vision of the company, Mr. Prashant Modi, President and COO atGEECL, has supervised Company’s efforts made for listing the company’s GDRs at the Alternate Investment Market in the London Stock Exchange in 2005 and 2006. Moreover, he should also be praised for his constant endeavor to shift them to the main board of the London Stock Exchange. He was successful in achieving the same in May 2010.
